Marks & Spencer India (M&S India) is actively exploring the potential for expansion in Tier-II cities across the country, as it currently operates 40 per cent of its stores in these cities. Despite having a significant presence in Tier-I markets, M&S India recognises untapped opportunities for further expansion in these regions.
Ritesh Mishra, managing director at M&S India, said, “Tier-II cities are of paramount importance to us, as there is still room for growth in Tier-I markets.”
M&S India places a high priority on driving growth through online channels, as a quarter of its sales already originate from e-commerce. Mishra emphasised that physical stores also play a pivotal role in driving business growth.
One of the brand’s standout categories is winter wear, which has shown an impressive year-on-year growth of 47 per cent.
Linen-based merchandise has also exhibited strong growth compared to the previous year, and lingerie, a cornerstone of the brand, contributes to a quarter of its total sales.
Despite increasing competition in the fashion sector, with foreign brands entering the Indian market, Mishra firmly believes that M&S India’s value proposition remains strong. He asserts that the brand faces no significant headwinds, saying, “We are confident that we have the right brand proposition, product strategy, pricing strategy, and strategic mall locations.”
M&S India recently celebrated the opening of its 100th store in the country. Each of its stores covers a range of 15,000-20,000 square feet. Mishra announced plans for further expansion, aiming to achieve a total retail area of 1.4 million square feet. He also noted that the brand has successfully opened one store per month for the past six months.